FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 20/11/2019 - Sideway to higher, 2560 or 2660 wait for breakout

InvestorsDoctor
Publish date: Wed, 20 Nov 2019, 09:48 AM
InvestorsDoctor
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20/11/2019

FCPO Feb 20

Previous Close: 2622 +25

FCPO settled above 2600 level as supported by stronger related edible oils. Dalian palm olein rose near 4% this mormning, expect FCPO to gap up. Watch out for Nov 1-20 CPO export data.

Hourly chart in sideway to higher trend, 2660 or 2560 wait for breakout, but be cautious of potential bearish divergence.

Classic Support & Resistance
Resistance: 2660 2700
Support: 2560 2500

Recommend Trading Plan for the day:
1. Buy 2658, stop 2650, profit 2666/2674/2682

FCPO Margin Requirement
Overnight MYR 3000

Disclaimer: For idea sharing only, trade at your own risk

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